No, this is not a "bad word", it's an actual name for game Release is tomorrow.
I was waiting for this game for a long time as it's directed by Keiichiro Toyama (known for the first Silent Hill game on PS1, the Forbidden Sires series on PS2 & PS3, and Gravity Rush series on Vita & PS4) after he left Sony together with some colleagues. The game obviously has a pretty low budget, and might be considered "janky" due to how unpolished and rough it is. Yet I think it has a lot of heart and soul put to it. And I believe it will provide an unique experience and will be a pretty enjoyable title who enjoy weird, unusual stuff. Also supposedly it will touch upon interesting themes in its storytelling.
From interviews, main source of inspirations are Parasyte, Gantz and Tokyo Ghoul, but also movies by Hong Kong film director Wong Kar-wai like Chungking Express or Fallen Angels.
Here are some trailers and supplemental materials.
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Slitterhead
wow.. we're sky high.. that shark we just jumped over is tiny.. we're so high right now (c)